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Remain flat temporarily

Remain flat temporarily | 23 December 2021

23 December 2021, EUR/USD

Remain flat temporarily

Technical observation

Yesterday EUR went up with a big green candle but did not reach the resistance zone 1.1372-1.1354; today I expect a further rise to the same zone followed by a rejection within it and a momentum to the lower side. My advice, remain flat and wait for a bounce within the zone mentioned above then sell EUR within it with your take profit at 1.0992 and stop loss at 1.1482. In case of a clear penetration below the supportive level 1.0992 with a big red candle, I expect further bearish movements of price towards the lower level marked at 1.0640. As long as EUR is trading below the zone 1.1372-1.1354, I can only recommend short positions for this pair.

Trade recommendation

Wait for a correction to the zone 1.1372-1.1354 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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